Kathmandu After days of demonstrations by the company’s agents and employees, the Himalayan Life Insurance Company’s Board of Directors has accepted the resignation of Chief Executive Officer (CEO) Manoj Kumar Lal Karna. The board decided on the matter at a meeting on Monday night.

The company’s insurance agents have been protesting and calling for the bonus amount to be raised to at least Rs 50 per unit. When agents and staff allegedly forbade the CEO and other employees from entering the office building on Monday and demanded his immediate resignation, the unrest apparently grew more intense. He said that he resigned because he could not pay the 50 percent bonus demanded by the agent.

Karna reportedly submitted his resignation earlier that afternoon due to the continued protests, which prevented him from entering the office. Later, the board met to formally accept his resignation.